https://www.taxtmi.com/highlights?id=83447 Rental income from leased properties consistently assessed as income from house property in prior and subsequent years. Sale of some properties in relevant years incidental to core activity of letting out properties, cannot change nature of income to business income. Income from sale of properties assessable as capital gains, not business income. Appellate Tribunal lacked jurisdiction to entertain belated rectification applications filed by Revenue beyond statutory six-month period. Allowing such applications after earlier dismissal of appeals citing low tax effect, either amounted to impermissible review or exceeded rectification powers, rendering Tribunal's orders void ab initio. Decided against Revenue. en-us Thu, 28 Nov 2024 07:48:51 +0530 Thu, 28 Nov 2024 07:48:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83447 Rental income from leased properties consistently assessed as income from house property in prior and subsequent years. Sale of some properties in relevant years incidental to core activity of letting out properties, cannot change nature of income to business income. Income from sale of properties assessable as capital gains, not business income. Appellate Tribunal lacked jurisdiction to entertain belated rectification applications filed by Revenue beyond statutory six-month period. Allowing such applications after earlier dismissal of appeals citing low tax effect, either amounted to impermissible review or exceeded rectification powers, rendering Tribunal's orders void ab initio. Decided against Revenue. Highlights Income Tax Thu, 28 Nov 2024 07:48:51 +0530 https://www.taxtmi.com/highlights?id=83447